HealthLoop, the makers of a cloud-based platform that aims to automate the process by which doctors engage with their patients after visits, announced today that it has closed a $10 million round of Series A financing.
The round was led by Canvas Venture Fund, the new $175 million investment vehicle recently launched by three partners of Morgenthaler Ventures. The round is the first investment made by Canvas Venture Fund and includes participation from Subtraction capital, as well as others. As a result of the round, Canvas Venture Partner Rebecca Lynn will be joining the startup’s board of directors.
Founded by Dr. Jordan Shlain, a physician and commissioner of the San Francisco Health Service Systems Board, HealthLoop was born out of the frustrations he witnessed every day from patients who experienced symptoms that went unnoticed and unreported between visits, often leading to emergency care.
To solve this problem, Shlain began methodically keeping track of patient visits via spreadsheets in order to help him remember to follow up between visits. Eventually, he hired a developer and turned his spreadsheet into a tool he could use for his practice, and from that, HealthLoop was born.
Today, HealthLoop aims to keep doctors, patients and care-givers better connected between visits by offering clinical information and peer-reviewed follow-up plans that aim to automate “the routine aspects of care, while tracking patient progress and monitoring clinical areas of concern.” Through its analytics engine, HealthLoop parses reams of patient data in realtime to enable doctors and caregivers to focus their attention on patients and medical issues who require the most attention.
The idea is to both save doctors time and improve the quality of outcomes for patients by helping to extend the doctor-patient relationship outside the exam room and by keeping all parties involved connected between visits.
Through its automated follow-up patient engagement and communication tools, HealthLoop aims to improve patient care, track outcomes across care venues and increase loyalty for doctors and practices while reducing costs inherent to unnecessary documentation and follow-up, in-office visits. And while EHR and PHRs focus on patient data and visits that have already happened, HealthLoop wants to focus on the realtime aspect of care, offering actionable data that can help doctors respond to critical issues as they arise.
With its new funding in two, HealthLoop will ramp up its hiring efforts and plans to expand the development of further patient engagement and follow-up tools, while working to raise awareness among doctors.